Over 760,000 Australians work a second job. That’s roughly the same number as the total Australians unemployed.

And the number of people moonlighting in a second job has been growing at a faster rate than the growth in primary jobs.

This phenomenon is a function of many families needing to supplement their primary income because of low wage growth, the boom in flexible jobs as part of the “sharing” economy and the ease in starting your own part-time digital business.

Just think about the friends and family driving an Uber for extra cash, or delivering food or selling goods online. That Australian entrepreneurial spirit and passion for hard work is alive as well.

When we were raising four young kids money was always tight. We decided from the start that Libby would be the homemaker dedicated to the kids and David the breadwinner.

That was our decision and it’s not for everyone. There is no right or wrong in the mixing of work and home duties in a relationship, it’s up to each couple.

We soon realised it was tough to raise a family on one income and we had to find extra cash. Thankfully being a journalist gives some flexibility.

While working for the Australian newspaper David was also the Australian columnist for the Economist magazine in London. While at BRW magazine he provided finance reports for radio breakfast shows and he hosted a nightly radio investment program while working at Personal Investment magazine.

That extra income was not only invaluable to balancing the family budget but also provided a great training ground to establish our future family businesses.

Starting a business part-time is the first and most secure route to turning that dream of becoming your own boss in to a reality. It means entrepreneurs can get a taste without the sink or swim risks of diving in with big upfront costs to sustain.

The alternative is the riskier strategy of starting a business full-time and struggling to meet the overheads when income is still volatile. Mistakes are a lot more costly.

In effect, moonlighting in a part-time venture is providing the business with seed funding to get started. The bank manager will be comforted by the fact that all those early mistakes were made with your money rather than their’s.

While the extra cash from either a second job, or a business on the side, can be welcome, don’t underestimate the commitment and the discipline you need. Read on for our 13 tips to make it work.

4 important financial skills to master.

. Be upfront with your employer. By telling them that you have another job, they may be more willing to work with you in terms of your schedule. Remember, it is important that you leave enough time for your family as well as for periods of rest. The worst feeling in the world is getting “burnt out.”

. A second job is only temporary for most people. Generally speaking, the majority of people who take on a second position do so because they have financial goals they are trying to reach. For instance, maybe you are saving for a home and you know that a second job can help you reach this goal sooner than expected. On the other hand, you may be interested in an additional position so you can quickly pay off debt. Remembering that your employment is only temporary will make the situation much more bearable.

. Chase jobs that offer a unique experience. Rather than opt for a position that is similar to your primary job, look for something that will spice things up a bit. Even if the job does not appear exciting on the surface, a change in scenery and responsibility is sure to make things easier on you.

. Your second job must align with the rest of your life, as well as your goals. For instance, if your primary job requires you to work 9–5, you need to find a position that can be scheduled around this. Maybe you could work 6–10 in the evening? Maybe you could consider a weekend position? Be open to all possibilities, but again, don’t choose a setup that will destroy your lifestyle.

If that second job comes from starting a business on the side, there are an additional set of considerations to tackle;

. Talk to the family. It is essential that you have the support of your family before starting a part-time venture. Discuss the idea with them and explain the pressures it will create on family life and free time.

. Give family members tasks. The best way to involve the family is to make them part of the venture. Give them tasks which make them feel as though they are contributing.

. Be a time manager. Juggling the hours in the day for full-time work and a part-time dream means you have to take advantage of every minute of the day. Use lunch hours and free time to work on the business but do it in a disciplined way.

. Forget the luxuries. Quiet nights in front of television, going out to the movies and restaurants could be sacrificed initially to spend time on the business. You must be prepared for this.

. Confine business to one room. Try and limit your office equipment and storage to just one room, otherwise you’ll be constantly in turmoil and unable to escape the pressures.

. Don’t let the day job slip. The performance at your full-time job is critical. It must not deteriorate. Remember that job is providing the all-important financial security to try a new business.

. Don’t make business calls during your day job. The risk is you will get fired.

. Never compete with the boss. Apart from being unethical, you can be accused of fraud by pinching ideas and systems. Start a totally different business or a completely separate niche.

. Don’t use company equipment. Unless you have permission from your employer, and offer to pay for anything used, do not use the boss’s photocopier or PCs for your business.